Back in March, my colleague Ben Sylvan wrote about the 10 Best Practices for CPG Marketers Using Purchase-Based Targeting and ROI.
In that blog, Sylvan detailed the importance of targeting specific types of category and brand buyers based on the purchase behaviors that can be observed about them. He also offered a suggestion when expanding beyond Purchase Based Targeting in his Rule 5: Don’t get too specific with audience selection.
The rule suggests that while you may know a lot more about your ideal consumer than just purchase behavior, if you require several conditions to be met to be included in an audience – that is, you must be a heavy category buyer AND buy Yoga pants AND drive a minivan AND be a female AND earn $150K per year – you could significantly limit your reach.
While I agree wholeheartedly with Ben about the importance of starting an audience definition with purchase behavior to identify those highly valued category and brand buyers,
I have a different take on his rule 5.
My take is that all those specific insights you have about your ideal target are valuable insights that should be used to create your best audience. If you know that you have the right to win with yoga pant buying, minivan driving females who make $150K per year, you should try to get your message in front of them as well.
But, rather than combining all these variables together with AND statements that will, as Ben rightfully pointed out, restrict scale, think of distinct groupings that combine the right traits to meet your objectives and expand your scale.
Here’s an example: let’s say you’re launching a new healthy granola bar. Your primary objective is to grow share so targeting granola bar category buyers or buyers of a specific competitor is a really smart place to start.
Now, since you’re a new brand and you’ve done some significant segmentation work suggesting that there’s a market opportunity among Millennials who play and watch team sports you can use those insights to add scale to your brand and category buying audience.
Simply layer additional data elements like Validated Demographics, TV viewing or behavioral data capturing sporting interests on top of your purchase based audiences through a purposeful use of AND/OR statements.
So now, your audience definition might look like this:
·Buyers of the Granola Bar Category OR Buyers of Top Competitor X
· Ages 18-34 AND MLB/NFL/NHL/NBA Watchers AND Interest in Team Sports
This purposeful use of AND/OR statements allows you to combine audiences that use the best combinations of data types and allow you to expand, rather than restrict, your reach.
Remember too that you can always run distinct audiences – that is, each of the two bullets above could be a standalone audience – and you can measure them individually to see which best met your share growth KPI.